Next month new bankruptcy legislation will is due to be passed by the Irish parliament. The hugely important new bill looks set drag Ireland’s laws insolvency kicking and screaming into the 21st century, creating a vital escape route for struggling debtors.

Following intense pressure from both The Central Bank and the Government, the banking sector in Ireland is finally putting strategies in place to deal with the thousands of customers who are in severe difficulties with their mortgage repayments.

Figures this week show Dublin householders are leaving council properties in droves. With more and more borrowers struggling to meet council mortgages and choosing instead to make interest-only repayments, 41 more householders are handing back their keys to the Council.Continue reading →